JTL INDUSTRIES LIMITED — Updates, 21-02-2025: Press Release (Revised)

JTL Industries has entered into a Memorandum of Understanding (MOU) with RCI Industries & Technologies Limited, allowing RCI to produce up to 200 MT/month of copper and brass alloys for JTL on a job-work basis. RCI operates a manufacturing facility in Baddi, Himachal Pradesh, with a total capacity of 15,000 MTPA for copper and brass strips. This strategic tie-up aims to position JTL within new sectors, particularly defense supplies, aligning with India's push for self-reliance. Once regulatory approvals are finalized, JTL will gain full ownership of the RCI plant, projected to significantly boost the company's topline by FY27. Management views this collaboration as a vital step towards gaining new customers and expanding market presence, particularly in the high-demand copper products sector. Positive outlook anticipated as JTL leverages RCI’s manufacturing capabilities for growth.